Hi,
This is for my friend who is a customer of Bonanza Portfolio Ltd.
My friend normally used to call the Bonanza executive to instruct him to do trading. And he used to tell what needs to buy or sell. For some reason my friend was away from his email for 1 months time and one day when he checked it, he found that Bonanza were doing trading on his behalf without his knowledge or permission.
He complained to NSE and there Bonanza is saying that since customer did not object within 24 hours , he can not say that he had objection.
My friend suffered loss of 300000 because of this. Now he is thinking of going for Arbitration against Bonanza.
I need your suggestion on what should be done.
Is checking email is necessary for clients?
Customer has to give in writing to the Broker to NOT trade for a period of time? (I think this is obvious that if not instructed no trading shud be done)
What legally can be done?
This is for my friend who is a customer of Bonanza Portfolio Ltd.
My friend normally used to call the Bonanza executive to instruct him to do trading. And he used to tell what needs to buy or sell. For some reason my friend was away from his email for 1 months time and one day when he checked it, he found that Bonanza were doing trading on his behalf without his knowledge or permission.
He complained to NSE and there Bonanza is saying that since customer did not object within 24 hours , he can not say that he had objection.
My friend suffered loss of 300000 because of this. Now he is thinking of going for Arbitration against Bonanza.
I need your suggestion on what should be done.
Is checking email is necessary for clients?
Customer has to give in writing to the Broker to NOT trade for a period of time? (I think this is obvious that if not instructed no trading shud be done)
What legally can be done?